Many Executives Think Sales Growth Has Topped Out

Business executives are becoming gloomier about the future despite recent improvements in consumer confidence and the housing market, a new survey by advisory firm CEB shows. The reason: They think sales growth has largely topped out.

CEB surveyed over 2,500 executives with a variety of jobs at larger companies around world in October. (CEB used to be called Corporate Executive Board.) The findings: The firm’s index of global business confidence fell for a third straight quarter to its lowest level since the fourth quarter of 2011. U.S. executives were more cheery than peers in Europe and Asia, but they too grew more negative. For example, 36% of U.S. executives expected jobs to be cut in the next 12 months, a jump from 29% in the last CEB survey. About the same amount, 35%, expected to add jobs, suggesting America’s job market could tread water next year instead of improving.

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